The streaming platform has reportedly fought off competition from BBC and ITV for 'The Crown', which has been developed by Left Bank Pictures, reported Digital Spy.
'The Crown' will chronicle the Queen's reign from her ascent to the throne at the age of 26, right through to the present day.
The drama will also focus on the political landscape in Britain over the last six decades.
'The Crown' is being written by Peter Morgan, who worked on 2006 film 'The Queen'. Stephen Daldry, who recently directed Helen Mirren as the Queen in 'The Audience', will also work on the project.
Left Bank managing directors Andy Harries and Marigo Kehoe will executive produce 'The Crown' once it is officially commissioned.
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